What is text mining?

Text mining also known as text data mining or text analytics is the process of discovering high quality information from the textual data sources. The application of text mining techniques to solve specific business problems is called business text analytics or simply text analytics. Text mining techniques can facilitate organizations derive valuable business insight from the wealth of textual information they possess.

Text mining transforms textual data into structured format through the use of several techniques. It involves identification and collection of the textual data sources, NLP techniques like part of speech tagging and syntactic parsing, entity/concept extraction
which identifies named features like people, places, organizations, etc., disambiguation, establishing relationship between different entities/concepts, pattern and trend analysis and visualization techniques.